Gold turns lower after Trump–Xi agreement

December gold futures fell 0.85% to $3,966.6 an ounce.

Gold futures turned lower as markets assessed the outcome of the meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping in South Korea.

During Thursday’s trading, December gold futures fell 0.85%, or $34.1, to $3,966.6 an ounce after touching $3,996 earlier in the session.

Spot gold, meanwhile, rose 0.7% to $3,957.91 an ounce, while spot silver was little changed at $47.58 an ounce.

The US dollar index, which measures the greenback’s performance against a basket of six major currencies, slipped 0.2% to 99.01 points as of 8:25 a.m. Mecca time.

December silver futures dropped 1.2% to $47.35 an ounce. Spot platinum inched up 0.1% to $1,596.72, while spot palladium gained 1% to $1,417.96.

Trump earlier announced a reduction in tariffs on Chinese exports to 47% from 57% and said Washington and Beijing reached a one-year agreement on access to rare earth minerals, to be renegotiated annually. China will also resume purchases of American soybeans.